Africa's Eurobond surge is more than a balance-sheet problem. It is a structural challenge to sovereign economic decision-making - and the continent's thinkers are demanding a...
The World Bank has officially reclassified Guyana as a ‘high-income’ country, marking a significant milestone in its journey from economic hardship to global recognition. This achievement...
By Gregory Simpkins Debt is a cancer that eats away a government’s ability to manage its economic affairs. It prevents governments from providing required social services,...
By Gregory Simpkins In the United States, the annual struggle over exceeding the debt limit has begun early. Republicans in the House of Representatives pledge to...
The immediate past Director General of Nigeria’s Securities and Exchange Commission Arunma Oteh has been named Vice President and Treasurer of the World Bank. According to...
Madagascar is emerging from a political crisis that saw the Southern African economy contracting since 2009. The country’s main focus under the new presidency is rejuvenating...
A report by the Africa Progress Panel (APP) says that poverty continue to plague the continent even after most countries registered strong economic growth over the past...
Mauritius has provided the security, credibility and stability that many investors look for when doing business in sub-Saharan Africa. The country has been putting in place...
The World Bank would offer $1 billion (R10.3 billion) in financing to help Angola rebuild infrastructure and develop its agriculture, an official at the lender said...
In a surprise move, Information minister Jonathan Moyo said the government was in the process of reviewing indigenization laws, which compel foreign businesses to hand over...
IBM has announced a collaboration with Zambia’s Ministry of Health to provide citizens with better access to 200 lifesaving drugs. The project, which begins in May...
The World Bank Board of Executive Directors has approved an US$8.2 million credit from the International Development Association (IDA) to help Guinea-Bissau create jobs and combat...
The World Bank says nearly 35,000 residents from localities in the north of Haiti will benefit from new infrastructure, economic opportunities and support to cultural events...
Rwanda’s finance minister said the country will soon allow derivatives trading on its stock exchange and a new investment code, which could offer tax breaks for...
The African Development Bank is stepping up plans to finance power and rail projects as China boosts lending on the continent by half. The Tunis-based lender is...
The International Finance Corporation (IFC), the private sector arm of the World Bank, expects to raise $22 million (about Rwf15 billion) when it issues its local...
The second scramble for Africa is in investment on the continent with China, US, the EU and Japan leading the foray into the fastest growing...
World Bank figures show that net Foreign Direct Investment inflows into Africa grew by 16.2 per cent to 43 billion in 2013. The World Economic Forum...
Chinese investors have offered the Federal Mortgage Bank of Nigeria (FMBN) $4 billion to improve the country’s inadequate housing infrastructure, Mr. Gimba Yau Kumo, FMBN’s Managing...
Showing progress towards greater cross-border cooperation to develop renewable energy projects, energy ministers from 19 countries are pushing ahead with the creation of the Africa Clean...
Ethiopia has received a $380 million World Bank loan to help improve the capacity of its urban councils through expansion of infrastructure and services. The board...
Innovative African university graduates have developed many new tech products in recent years, but they prefer to work in Western countries where there is more support and more...
Investment in infrastructure and natural resources will continue to underpin economic activity in sub-Saharan Africa. However, capital outflows sparked by tighter global financial conditions pose a...
Angola remains a key economic performer in the continent despite a change in its global rating. “We first put Angola on a positive outlook way back...
Nigerian oil and gas firm, Seven Energy International Limited says it has secured a $255 million equity capital from multiple investors in furtherance of its plan...
Zimbabwe’s latest economic blueprint, the Zimbabwe Agenda for Sustainable Socioeconomic Transformation (ZimAsset), received a critical boost after the World Bank endorsed it. ZimAsset, sponsored by President...
African agribusiness sector worth about $313 billion currently and providing for more than 70 percent of the jobs on the continent could triple in value by...
The World Bank has voiced concern about what it described as the exorbitant cost of sending remittances to the Caribbean and other places, saying that forcing...
Improving science and technology training and modernizing services could help boost Africa’s economic growth prospects, says the World Bank. The World Bank on Monday said economic...
Sub-Saharan Africa’s economic growth is set to hit 5.2 per cent, up from 4.7 per cent, the World Bank has said. “This performance is boosted by...
When South Africa successfully gave businesses incentive to manufacture solar panels, other African countries were watching. Solar panel manufactures have since popped up in Mozambique, Ghana,...
World Bank has approved a Sh17.5 billion ($203.5 million) loan geared towards the reconstruction of Kenya’s Jomo Kenyatta International Airport (JKIA) arrivals terminal which was destroyed...
World Bank has approved a grant of $73.1 billion to help the Democratic Republic of Congo (DRC) fund the development the Inga III Base Chute (BC)...
Twenty countries in sub-Saharan Africa are categorized as resource-rich by the International Monetary Fund, but while African soil holds immense riches, the continent’s resources remain woefully...
The World Bank is likely to approve $73 million next week to fund an expansion of the Inga hydroelectric dam in Democratic Republic of Congo, a...
From apps to fight rising crime levels to e-learning tools for pre-school and up, the World Bank says a prodigious talent and a depth of ideas...
The seaports and rail system of South Africa play an important role in the economies of not only that country, but those of neighboring landlocked members...
Pay-as-you-go solar power and solar-powered computers for students are a few of the off-grid power systems taking off in parts of Africa where resident have no...
The World Bank says Jamaica is one step closer to positioning itself as a credible player in the global animation industry with the graduation of 45...
Grenada’s Economic Affairs Minister, Oliver Joseph, advised that the Grenada government will sign the Letter of Intent to implement the International Monetary Fund (IMF) backed home...
Remittances by Zimbabweans in the Diaspora sent through money transfer agencies and formal banking channels declined by 15 percent last year to $1.8 billion, the country’s...
Grenada is preparing to lower the income tax threshold and make new efforts to catch tax dodgers. The Caribbean nation’s state-run news agency said Sunday that...
By Nicholas Norbrook Governments across the continent are looking for new development models after the policies of privatization and liberalization seem to have run their course....
African middle class family in Lusaka, Zambia. PHOTO/Georgina Smith/The Guardian After years of headlines about Africa’s poverty, its emerging middle class is now grabbing attention as...
The International Monetary Fund (IMF) says the Caribbean and African countries dubber “low-income countries” are among the fastest-growing economies in the world, but warn that many...
Africa, with its improved economies, can contribute to global growth for the first time in history, African finance ministers said on Saturday in Washington. “Africa is...
By Ryan Elcock Yesterday, I was enjoying the third season of Spartacus: War of the Damned; rightfully called so because even though Spartacus was victorious in...
A recent World Bank report has found there has been a 50 percent increase in the number of people joining the middle class in the Caribbean...
By Emmanuel Musaazi China has become the new cash cow on the block. Money from China is being sought worldwide and countries are lining up bowl...
The launch of the BRICS development bank in South Africa would provide Africa, the Caribbean and other emerging countries an alternative to the Western dominated Bretton...
The World Bank investing arm, the International Financing Corporation (IFC), will own 7.4 percent of Kenya Airways after conclusion of a rights issue through which it...
Ngozi Okonjo-Iweala. PHOTO/Yuri Gripas/Reuters The Nigerian challenger to head the World Bank congratulated Korean-American physician Jim Yong Kim on his appointment to the post on Monday,...
Nigeria Finance Minister., Ngozi Okonjo-Iweala. PHOTO/File South Africa’s finance minister, appearing braced for disappointment when the World Bank chooses a new leader later Monday, said he’ll...
Malawi President., Bingu wa Mutharika. PHOTO/File Malawi’s president was hospitalized Thursday with a heart problem, officials said. The officials, who spoke on condition of anonymity because...
Ngozi Okonjo-Iweala PHOTO/Ramin Talaie/EPA A group of former World Bank officials today endorsed Africa’s candidate to lead the Bank, Nigerian Finance Minister Ngozi Okonjo-Iweala. In an...
App developers at work in Nairobi, Kenya. PHOTO/File Kenya’s quest to become the global hub for mobile phone applications has been bolstered by a grant of...
Ngozi Okonjo-Iweala. PHOTO/John MacDougall/AFP (Reuters) – African Union finance leaders on Monday unanimously endorsed Nigerian Finance Minister Ngozi Okonjo-Iweala’s candidacy to lead the World Bank and...
U.S. President Barack Obama. PHOTO/File President Barack Obama will nominate Dartmouth College President Jim Yong Kim to head the World Bank, a surprise pick for the...
Ngozi Okonjo-Iweala. PHOTO/Eric Feferberg/Getty Images Nigeria’s finance minister Friday joined the race for the top World Bank job, backed by Africa’s leading economies in a push...
Ngozi Okonjo-Iweala. PHOTO/Eric Feferberg/Getty Images Nigeria Finance Minister Ngozi Okonjo-Iweala is not pursuing the World Bank’s top job, her spokesman said Wednesday, amid reports that her...
The World Bank‘s newly-appointed vice president for Latin America and the Caribbean, Hasan Tuluy, is to begin a two-day visit to Haiti on Wednesday, his first...
(Reuters) – African countries can prepare for the impact of the euro-zone crisis that threatens to derail economic growth on the continent by improving trade between...
The cost of sending remittances to and within Africa could come down thanks to a new online database that will compare costs among money transfer service...
The wider Latin America and Caribbean region will see 4.7 percent economic growth.
African migrants send home billions Mashonaland, Zimbabwe (CNN) — They might have left their countries to earn themselves a living abroad but for millions of Africans...
